With senators like Chuck Schumer and Harry Reid, who needs enemies? Who can forget the run on IndyMac bank caused by Chuck Schumer and his big mouth?
Now we have Schumer’s pal, Harry Reid, causing a steep drop in insurers’ stocks. Last night Harry Reid declared that a major insurance company was on the verge of bankruptcy. According to CNN Money:
“Harry Reid didn’t help any,” Schwartz said.
New York-based MetLife (MET, Fortune 500) was one of the hardest-hit insurers Thursday. Its stock plunged nearly 16%. Thursday’s drop comes after a 14% decline on Wednesday.
Shares of Hartford Financial Services (HIG, Fortune 500) fell about 33%, following a 7% decline on Wednesday. The stock has lost more than half of its value this week. Read article.
If it’s true the Democrats are not engaging in the strategy of manufactured crisis, they sure have a funny way of showing it. If they don’t want people to believe it they may want to tell Senators Reid and Schumer to sit down and shut up!
